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Business

Wed, July 6, 2022 | 23:05

Energy tech university becomes major headache as KEPCO's losses swell

Korea Institute of Energy Technology (Kentech), a much-criticized technology university associated with Korea Electric Power Corp. (KEPCO), is emerging as a major headache for the state-run power firm, whose record-high losses will mean that it won't be able to finance the operation of the higher educational institution in need of about 1.6 trillion won ($1.2 billion) over th...

Lee Kyung-min | 2022-07-05 00:36

OB, HiteJinro, Shinsegae compete in growing sparkling liquor market

Local brewers are competing to secure the upper hand in the rapidly growing sparkling liquor market as the summer heat wave intensifies, according to company officials Monday. Currently, HiteJinro is leading the market but Oriental Brewery (OB) and Shinsegae Liquor & Beverage (Shinsegae L&B) are catching up by introducing new brands.

Kim Jae-heun | 2022-07-04 17:14

'Korea, Japan should restore visa waiver program'

Members of the Federation of Korean Industries (FKI) and the Japan Business Federation called on each of their governments to restore a mutual visa waiver program that has been suspended since the outbreak of the COVID-19 pandemic. Amid signs of a recovery in Korea's economic ties with Japan under the leadership of President Yoon Suk-yeol, both business federations also agree...

Park Jae-hyuk | 2022-07-04 16:53

Yoon gov't kick-starts efforts to mend ties with Japan

HanmiGlobal wins $34 million order from Saudi Arabia

HanmiGlobal secured a 44 billion won ($34 million) order for a massive construction management project from Diriyah Gate Development Authority (DGDA), of which Saudi Arabia's Crown Prince Mohammed bin Salman chairs the board of directors, the Korean firm said Monday. DGDA plans to build luxury villas, townhouses, community centers, resorts, hospitals and shopping centers.

Park Jae-hyuk | 2022-07-04 16:38

Global energy expert praises SK Innovation's green transformation

A green transformation initiative led by SK Innovation, an energy affiliate of SK Group, has a “very high potential for eventual success,” a global expert on energy and corporate governance in emerging markets, said Monday.

Lee Kyung-min | 2022-07-04 16:35

Hyundai, Kia to unveil new EVs at Busan motor show

Hyundai Motor Group's brands - Hyundai Motor, Kia and Genesis - will unveil new models including electric vehicles (EVs) such as Hyundai's Ioniq 6 and Kia's EV9 concept SUV at the Busan International Motor Show next week, according to the automotive giant, Monday. The Busan International Motor Show, which will be held for 10 days from July 15 to 24 in the southeastern port ci...

Baek Byung-yeul | 2022-07-04 16:34

KT drama 'Extraordinary Attorney Woo' popular on Netflix

KT is accelerating its transition into a digital platform company, demonstrated by a series of dramas made by its media content affiliate having entered the top 10 of video streaming giant Netflix, a company official said, Monday. Citing KT CEO Ku Hyeon-mo's recent meeting with Netflix CEO Reed Hastings to discuss cooperation measures, the spokesman said KT is stepping up as ...

Baek Byung-yeul | 2022-07-04 15:07

KOIMA chairman ordained pastor

Korea Importers Association (KOIMA) Chairman Kim Byung-kwan, who is also the CEO of Bronte Family, importing cashmere from China, was ordained as a pastor in the Presbyterian Church General Assembly in Korea to fulfill his wish, according to the business lobby group for 8,000 importers here, Monday.

Park Jae-hyuk | 2022-07-04 14:58

Seoul-Tokyo summit needed to restore ties, resolve pending issues: biz leaders

Business leaders of Korea and Japan on Monday called for the leaders of the two countries to hold a summit at an early date to address pending bilateral issues and help restore economic ties.

2022-07-04 10:39

'Global firms look to Korea for inspiration and trends': Kantar CCO

Many Korean companies have the potential to become international household names after the COVID-19 pandemic as Asia's fourth-largest economy has emerged as a driving force for global innovation and cultural changes, according to the executive of a global brand consulting firm. “There has been a huge cultural movement as Korea takes its place on the global stage, be it 'Squid...

Kim Jae-heun | 2022-07-04 08:48

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